Lance Geller Trustee Acquires Development Site In Miami Beach For $5.15M
SOLD
$5,150,000
Florida
See Similar DealsDevelopment Site12,000 SF
Sold 12/10/2021
SOLD
Lance Geller Trustee Acquires Development Site In Miami Beach For $5.15M
1830 Daytonia Road, Miami Beach, FL 33141
See Similar DealsDevelopment Site12,000 SF
Sold 12/10/2021
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$429
Total Square Footage:12,000 SF
Transaction Type:Sale
An undeveloped property in Miami Beach has recently been sold for $5,150,000. Located at 1830 Daytonia Road, the development site spans approximately 12,000 square feet.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $5,150,000
- Address: 1830 Daytonia Road, Miami Beach
- Market: Miami Beach
The buyer in this transaction is Lance Geller, who acted as the trustee for the Lance Geller Trust. The seller was Mickael Benhamou, representing 1830 Daytonia LLC. The deal was facilitated by broker Juan de Jongh of Colfax Realty International.
This sale marks the successful transfer of ownership for this development site, providing an opportunity for future development in Miami Beach.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$274,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$18,296.86
Cash-on-Cash Return-1.27%
Monthly Debt Service$24,413.63
Annual Debt Service$292,963.53
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